Marsh & McLennan Companies (MMC), which employs nearly 65,000 people, is about to become even bigger. Known for its units Marsh, Guy Carpenter, Mercer, and Oliver Wyman, the global professional services firm is snapping up Jardine Lloyd Thompson Group (JLT).
In its announcement today, MMC said it has reached an agreement to purchase the British insurance brokerage for consideration of £19.15 per share – a 33.7% premium, as JLT shares closed at £14.32 on September 17. Under the terms of the transaction, which has been approved by the boards of directors of both camps, the New York-headquartered group will acquire all issued, and to be issued, share capital of JLT in cash.
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